KUALA LUMPUR: Demand for Malaysian palm oil has risen, with sales to the US and China increasing by 28% and 16.3% respectively from January to June this year, compared to the same period last year, the Senate was told today.
The deputy minister for primary industries Shamsul Iskandar Mohd Akin, said trade with India increased by 86% this year due to favourable tax conditions, while sales to the EU rose by 8%.
He said Primary Industries Minister Teresa Kok would visit India to see how to further improve trade.
Shamsul Iskandar said that while the trade war between the US and China has had an impact on palm oil sales, Malaysia could benefit from sales of both palm oil and palm oil products, if the situation was managed well.
The minister was responding to a supplementary question from Senator Kesavadas A Achyuthan Nair about overseas demand for Malaysian palm oil, as well as whether the trade war had affected the industry.